China In Our Hands

Is there no limit to Ken Livingstone's ambitions? Not content with simply running one of the largest and most important cities on Earth, he's now conducting foreign policy as well.

In an announcement timed to coincide with the Chinese New Year, Ken has announced that he is opening two embassies for London in the People's Republic. These far-flung outposts of the Livingstonian Empire - one in Beijing, the other in Shanghai - will promote investment by Chinese companies in the capital and urge them to set up European headquarters here.

"Traditionally Chinese companies have been going to Germany but there are signs that London is gaining favour over Germany and more companies are choosing London as their port of call or to set up a European headquarters," the Financial Times' UK business correspondent, Jonathan Moules, told BBC News.

Full secession from the UK can't be far behind. At this rate, London will have its own currency and space programme by next week.